KARACHI: The International Monetary Fund has asked for more time for negotiations with Pakistan over a deal that would unlock US$1.1 billion in much-needed funds for the country, Secretary of Finance Hamed Sheikh said on Thursday (Feb 9). Cash-strapped Pakistan, pushed to the limit by last year's devastati
KARACHI: The International Monetary Fund has asked for more time for negotiations with Pakistan over a deal that would unlock US$1.1 billion in much-needed funds for the country, Secretary of Finance Hamed Sheikh said on Thursday .
"The staff-level agreement between Pakistan and IMF will be reached soon," Sheikh, a senior official at the Ministry of Finance, said in a statement to Reuters."The IMF mission asked for more time for staff-level negotiations." Broadcaster Geo reported hours earlier, citing sources, that all matters had been settled between both sides over the bailout.
The fiscal adjustments demanded by any deal, however, are likely to fuel record-high inflation, which hit 27.5 per cent year-on-year in January, analysts say.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Doping-AIU seeks six-year ban for Nigerian sprinter OduduruNigerian sprinter Divine Oduduru has been provisionally suspended and notified of two potential Anti-Doping Rule Violations (ADRVs) by the Athletics Integrity Unit (AIU) who said on Thursday they are seeking a six-year ban.The alleged violations relate to the possession or use or attempted use of a prohib
Read more »
Is it worth applying for the DCS Diners Club Cashback Card?Looking for a fuss-free, low minimum spend cashback credit card? The DCS Diners Club Cashback Card might tick the right boxes for you. Unlike many other DCS cards with merchant-specific rebates (like the DCS Don Don Donki and Sheng Siong cards), the DCS Diners Club Cashback Card offers cashback on spending from a range of retailers. But is the DCS...
Read more »
Siemens raises full-year sales guidance after Q1 tops forecastsZURICH :Siemens reported better-than-expected quarterly at its industrial business on Wednesday and raised its full-year sales guidance, boosted by a strong start to its 2023 fiscal year. The builder of trains and industrial software reported profit at its industrial business of 2.7 billion euros ($2.90 billi
Read more »
Worth a trip down Street Of DreamsIf you are adventurous and on the lookout for a juicy payout in the highly competitive Kranji Stakes “A” race on Sunday, you might want to give plenty of thought to Street Of Dreams. A lightweight in the $100,000 contest over 1,400m, he sneaks in with just...
Read more »
HYBE to acquire shares worth $335 million in SM EntertainmentSEOUL : South Korean entertainment company HYBE said on Friday it will acquire shares worth 423 billion won ($334.51 million) in its rival SM Entertainment to strengthen its position in the K-pop industry.The move comes just days after Kakao Corp said it would acquire a 9.05 per cent stake in SM Entertain
Read more »
Paraguay president to visit Taiwan ahead of election that could end tiesTAIPEI: Paraguay's president, Mario Abdo, will visit Taiwan next week as the island seeks to shore up ties with one of its oldest allies ahead of an election in April that could see the Latin American country ditch Taipei in favour of Beijing. Paraguay is one of only 14 countries to have formal diplomatic
Read more »